Startup Incubator 757 Collab, a collaborative vehicle serving startups in the Hampton Roads region, has been awarded a $2.4 million grant from GO Virginia. This grant, one of the largest yet awarded by GO Virginia, will be used to expand 757 Collab’s offerings and provide greater access to critical entrepreneurial resources. The funds will be matched by $1.6 million in private sector capital, enabling 757 Collab to invest $4 million in growing the regional innovation economy over the next two years. 757 Collab, which combines the services of 757 Angels, 757 Accelerate, and 757 Startup Studios, aims to fill key resource gaps, promote entrepreneurial activities, and drive innovation in emerging industries. To date, organizations under 757 Collab have invested nearly $90 million in capital and created over 850 jobs.
Contact
Monique Adams, Managing Director |757 Collab
Executive Director| 757 Angels
757-513-1343moniqueadams@757angelsgroup.com
757angelsgroup.org
News
Norfolk, VA– Governor Northam recently announced that GO Virginia has awarded 757 Collab $2.4M to expand its offerings providing greater access to critical entrepreneurial resources for Hampton Roads startups. The757 Collab is a collaborative vehicle designed to provide founders and startups with the coordinated services of 757 Angels, 757 Accelerate, and 757 Startup Studios. GO Virginia grant funds were matched by $1.6M in private sector capital allowing 757 Collab to put $4M to work to continue growing the regional innovation economy over the next two years. This grant is one of the largest yet awarded by GO Virginia.
Statement from Monique Adams
“We will leverage GO Virginia’s grant funds to support the continued momentum and expansion of capital, programming, and place for entrepreneurs in our region and the state”, said Monique Adams, Managing Director of 757 Collab and Executive Director of 757 Angels. “We are particularly excited to put GO Virginia funds to work filling key resource gaps including diversity, non-dilutive and venture capital funding, increased awareness of entrepreneurial activities, and emerging industries such as healthcare and maritime innovation.”
Impact of 757 Collab
757 Collab and its underlying organizations are trailblazers in the innovation economy. 757 Collab believes in the audacious pursuit of entrepreneurship through business creation that transforms communities. Transformation is driven by connectivity, inclusion, and collaboration which unite to create an environment where entrepreneurs can thrive. To date, 757 Collab organizations have invested nearly $90M in capital and created over 850 jobs. 757 Collab’s newest resource, 757 Startup Studios, has opened to rave reviews. 757 Startup Studios serves as the “front door” to the regional ecosystem and is intentionally located in Assembly, a campus for innovators and creators. The Studios houses entrepreneurs and resources all under one roof, providing heightened connectivity and meaningful programming.
Support for GO Virginia Grant
757 Collab’s GO Virginia grant received unprecedented support – more than any other GO Virginia grant. The grant was supported by 74 organizations from the Hampton Roads region and across the state. Financial support was provided by numerous sponsors including TowneBank, Mid-Atlantic Tech Bridge/NavalX, Activation Capital, Ferguson, Cox, Hampton Roads Biomedical Research Consortium, and the following cities and universities, Norfolk, Hampton, Newport News, ODU, CNU, and EVMS.
About 757 Collab
About 757 Collab
757 Collab is a collaborative vehicle focused on growing an interconnected, inclusive, and impactful entrepreneurial ecosystem. 757 Collab manages and coordinates the activities of 3 resources: 757 Angels, 757 Accelerate, and 757 Startup Studios.
About GO Virginia
About GO Virginia
GO Virginia is a state-funded initiative administered by the Virginia Department of Housing and Community Development (DHCD) that strengthens and diversifies Virginia’s economy and fosters the creation of higher-wage jobs in strategic industries.
Question & Answer
What is the purpose of the $2.4 million grant awarded to 757 Collab?
The grant awarded to 757 Collab will be used to expand its offerings and provide greater access to critical entrepreneurial resources for startups in the Hampton Roads region.
How much private sector capital was matched with the grant received by 757 Collab?
The grant received by 757 Collab was matched by $1.6 million in private sector capital, enabling a total investment of $4 million in growing the regional innovation economy over the next two years.
What organizations are combined under 757 Collab?
757 Collab combines the services of 757 Angels, 757 Accelerate, and 757 Startup Studios to provide founders and startups with coordinated resources and support.
How much capital have organizations under 757 Collab invested to date?
Organizations under 757 Collab have invested nearly $90 million in capital and created over 850 jobs to date, contributing significantly to the regional innovation economy.
